Wall Street falls as oil prices rise and chip stocks slide

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Wall Street falls as oil prices rise and chip stocks slide
Photo: Seth Wenig/AP/TT

After 40 minutes of trading, the Dow Jones Industrial Average was up 0.1 percent, while the broad S&P 500 index and the technology-heavy Nasdaq Composite Index were down 0.3 and 0.9 percent, respectively.

Several chip companies - such as Micron, SanDisk, Seagate and AMD - are falling sharply. Earlier on Monday, the chip industry was also in turmoil on the South Korean stock exchange.

Oil futures prices are also rising in the wake of the new attacks between the US and Iran around the Persian Gulf. A barrel of North Sea oil has risen 3.6 percent during the day and now costs $78.72.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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